Partial funding for this study was provided by the Council on Food, Agricultural and Resource Economics, Washington, DC.
Agricultural and Resource Economics Review
Forest management, Forests and forestry
We demonstrate an application evaluating carbon sequestration benefits from federal policy alternatives. Using detailed forest inventory data, we projected carbon sequestration outcomes in the coterminous 48 states for a baseline scenario and three policy scenarios through 2050. Alternatives included (1) reducing deforestation from development, (2) afforestation in the eastern United States and reforestation in the western United States, and (3) reducing stand-replacing wildfires. We used social cost of carbon estimates to evaluate the present value of carbon sequestration benefits gained with each policy. Results suggest that afforestation and reforestation would provide the greatest marginal increase in carbon benefit, far exceeding policy cost.
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Haight, R. G., Bluffstone, R., Kline, J. D., Coulston, J. W., Wear, D. N., & Zook, K. (2019). Estimating the Present Value of Carbon Sequestration in US Forests, 2015–2050, for Evaluating Federal Climate Change Mitigation Policies. Agricultural and Resource Economics Review, 1-28.